Boost Sales by Offering Diverse Payment Methods

Q: How does Tiendanube make virtual stores more attractive and approachable?

A: Tiendanube is a software-as-a-service (SaaS) platform that offers the technology to build a customizable online store with check-out. With over 100,000 clients, Tiendanube is now Latin America's largest online store platform. We are the market leader in Brazil and Argentina. We started operations in Mexico a year and a half ago and we are customizing our platform to become leaders in this country. The local support team in Mexico fully knows the platform and the best procedures for selling online in the country.

We offer a simple platform that can be customized in accordance with the client's brand. Clients simply upload their products and customize payment and shipping methods. We offer 10 different payment methods, while shipment can be customized in terms of cost and delivery times, among other factors. We work with many delivery companies in Mexico City, such as 99 minutes, DHL, ivoy and envia.com. Our platform offers process automation and live cost updates, allowing clients to evaluate different services to choose the best option.

Q: How does the Mexican market differ from the Argentinean and the Brazilian markets?

A: The three countries face the same problems: fraud and logistics issues. However, solutions differ depending on the country. The payment ecosystems of each country are also different, so companies need specific know-how. For that reason, we have to focus on the local ecosystem to offer the best solutions.

Mexico is the least developed market of these three counties and has a limited B2C commerce penetration. However, large e-commerce marketplaces operate in Mexico. It is possible for smaller companies to sell directly to consumers online but to achieve this, platforms must improve the marketplace experience.

Tiendanube is continuously growing as more online stores open with us. Before us, there was no platform as simple, customizable and easy to use as Tiendanube.

Q: What trends has Tiendanube identified in the market?

A: Latin America has a 10 percent e-commerce penetration in retail, which is low in comparison to markets like Asia, which has a 50 percent penetration. The region prefers the omnichannel model, which combines the physical and the digital buying experiences. In the future, 90 percent of all retail sales will include at least one digital process. If companies do not control this single digital process, then they will be exposing their clients to an incomplete catalog or a misleading representation of the brand. By having control over digital processes, companies can strengthen and build a relationship with clients.

Q: What is your strategy for a successful social media campaign and how can it impact lead generation?

A: It is hard to find a better way to exhibit a business’s catalog than social media. In it, companies can promote products by transmitting a brand identity in different formats. However, social media does not allow businesses to make transactions. Tiendanube integrates  social media so businesses can link their online stores with their social accounts. Over 70 percent of the sales today are made from a mobile device, demonstrating the spontaneity of sales. Instagram accounts with over 5,000 followers have enough traffic to have their own online store.

Q: How does Tiendanube help to solve common problems, such as abandoned carts?

A: There are many strategies to reduce the number of abandoned carts. As stores offer more payment methods, it is more likely that they will offer the client’s preferred method, leading to a sale. Businesses can also increase sales by showing the real costs of shipment.

Abandoned carts also offer important information about clients. On the Tiendanube platform, users access the history of each cart, which is essential for marketing campaigns and promotions.

Q: In which retail segments do you see the largest opportunity and why?

A: All industries can digitalize their services and all kinds of products can be commercialized online. However, the most popular sectors on our platform are fashion, health and beauty and home and décor. In Mexico, food and adult products are also important. There are no clear trends but the main categories are not likely to change.

Tiendanube provides an e-commerce solution that allows MSMEs to create their own self-managed online store without needing technical knowledge.